BlackBerry Ltd. shares rose in the extended session Wednesday after the company announced it planned to spin off its Internet-of-Things business in an initial public offering.
Recently, BlackBerry earnings met Wall Street expectations, while revenue was a little below what was expected. Of the $132 million that BlackBerry reported in second-quarter revenue, IoT accounted for $49 million, compared with a $79 million contribution from cybersecurity sales.
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